Japan’s Itochu says plans no fresh investment in thermal coal mines
Itochu sold its 12.5 percent stake in Rolleston thermal coal mine in Australia this month, the company spokesman said, without giving other details such as terms of the deal
TOKYO: * Japanese trading house Itochu Corp said on Thursday it would not make fresh investments in thermal coal mines and coal-fired power plant projects as part of its effort to help cut greenhouse gas emissions.
* Itochu sold its 12.5 percent stake in Rolleston thermal coal mine in Australia this month, the company spokesman said, without giving other details such as terms of the deal.
* But the company, which owns stake in Colombia’s Drummond coal mine and other coal mines in Australia, will continue to offer stable thermal coal supply to meet energy demand from its customers at home and abroad, it said.
* The company aims to boost renewable energy ratio in its power generation projects to 20 percent or more by the business year ending March 2031.
Source: AP
